WalletHub reports that red states are in deeper financial distress than blue states as North Dakota and Iowa saw big jumps in unemployment claims in states where Republican governors are among the country's least popular. Kristi Noem's popularity hovers at nineteenth just behind Nebraska's Earth hating governor. Iowa's Republican governor is one of the most hated in the United States.
South Dakota also saw an increase in bankruptcy filings while the state is 42nd in credit score ranking and 15th in the number of people in financial distress in large part because of high medical and energy costs. Declining farmland prices and falling commodity prices could mean a recession in the economies of Midwest Trump states.
"This is the fourth time this year that we've had a reading below growth neutral and with this being the eighth month, of course that means we've had four below and four above," said Goss. Additionally, the survey's employment index for August fell to 45.2 from 49.7 in July. Additionally, almost 18% of supply managers reported a shortage of workers in the August survey. Over 17% of respondents believed tariffs and trade restrictions were the greatest threat to the economy, while over 23.5% stated higher input costs as the biggest threat. [Goss: August BCI numbers continue to chill Midwest economy]Learn more at the Nebraska Examiner.
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